luggage

The club-type deal was prompted by reverse inquiries and is the third sell-down by the two pre-IPO shareholders since Samsonite’s listing in 2011.

The reverse-inquiry club deal cuts their combined stake in the luggage specialist to about 20%, while a block trade in Indonesia’s Harum Energy is pulled due to lack of demand.

The sale, which accounts for less than 20% of their combined stake, comes about four months after a lock-up expiry and as the Samsonite stock breaks above the IPO price.

The luggage specialist will become the second non-Asian consumer products company to list in Hong Kong after fixing the price in the lower half of the range.

The private equity-owned luggage maker aims to beat Prada to become the second international consumer product brand to list in Hong Kong after L’Occitane.

The Italian fashion designer hits the market two days after Samsonite, suggesting investors focusing on the consumer retail sector will be busy in the weeks ahead. The two brand icons could raise as much as $4 billion.